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Day: May 26, 2017
May 262017
EUR/USD Extends Move Down Following Positive Revision of US GDP
EUR/USD was falling today and extended its decline following the upward revision of US gross domestic product. While the currency pair halted the drop for now, it is too early to tell whether that was just a short pause or a more significant bounce. US GDP rose 1.2% in Q1 2017 according to the second (preliminary) estimate. It was a better reading than 0.9% predicted by analysts and 0.7% showed by the advance […]
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May 262017
British Pound Weakens Against US Dollar amid UK Politics and Strong US Data
The British pound today came under increased selling pressure after the release of positive US GDP data by the Bureau of Economic Analysis as well as personal consumption data. The British pound was under intense selling pressure today as UK politics take center stage given that the Conservative Party has lost significant ground against the Labor Party. The GBP/USD currency pair lost over 150 points at the height of its decline today […]
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May 262017
British Pound Weakens Against US Dollar amid UK Politics and Strong US Data
The British pound today came under increased selling pressure after the release of positive US GDP data by the Bureau of Economic Analysis as well as personal consumption data. The British pound was under intense selling pressure today as UK politics take center stage given that the Conservative Party has lost significant ground against the Labor Party. The GBP/USD currency pair lost over 150 points at the height of its decline today […]
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May 262017
CAD Gains on USD, Other Majors as Oil Prices Stabilize
The Canadian dollar rallied against its major peers (including the US dollar, which itself was strong) during the current trading session after prices for crude oil stabilized following the initial sell-off. With that said, the loonie failed to beat the very firm Japanese yen. The Organization of Petroleum Exporting Countries announced yesterday that it and some other major oil producers are extending oil productions cuts. Initially, […]
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May 262017
CAD Gains on USD, Other Majors as Oil Prices Stabilize
The Canadian dollar rallied against its major peers (including the US dollar, which itself was strong) during the current trading session after prices for crude oil stabilized following the initial sell-off. With that said, the loonie failed to beat the very firm Japanese yen. The Organization of Petroleum Exporting Countries announced yesterday that it and some other major oil producers are extending oil productions cuts. Initially, […]
Read more
May 262017
Malaysian Ringgit Gains Following Oil Production Cuts Extension
The Malaysian ringgit logged gains today following the announcement of an oil production cuts extension from the members of the Organization of Petroleum Exporting Countries and some non-OPEC producers, including Russia. The OPEC announced an extension of the previously agreed upon cuts till the first quarter of 2018. That should support prices for crude, which will be good for oil-producing Malaysia. The ringgit gained on the US dollar also because of the disappointing policy minutes from the Federal […]
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May 262017
Malaysian Ringgit Gains Following Oil Production Cuts Extension
The Malaysian ringgit logged gains today following the announcement of an oil production cuts extension from the members of the Organization of Petroleum Exporting Countries and some non-OPEC producers, including Russia. The OPEC announced an extension of the previously agreed upon cuts till the first quarter of 2018. That should support prices for crude, which will be good for oil-producing Malaysia. The ringgit gained on the US dollar also because of the disappointing policy minutes from the Federal […]
Read more
May 262017
Japanese Yen Gains as Tokyo’s Inflation Tops Expectations
The Japanese yen gained today after inflation in Tokyo, Japan’s most populated city, topped market expectations. Other macroeconomic indicators released during the trading session were not as good, but that did not bother the currency, at least for now. The Tokyo core Consumer Price Index rose 0.1% in May from a year ago, which was a better result than no change predicted by analysts and the drop by 0.1% registered […]
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May 262017
Japanese Yen Gains as Tokyo’s Inflation Tops Expectations
The Japanese yen gained today after inflation in Tokyo, Japan’s most populated city, topped market expectations. Other macroeconomic indicators released during the trading session were not as good, but that did not bother the currency, at least for now. The Tokyo core Consumer Price Index rose 0.1% in May from a year ago, which was a better result than no change predicted by analysts and the drop by 0.1% registered […]
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